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Chief economist update: The back-to-back rate cuts Australia has to have

BENJAMIN ONG  |  WEDNESDAY, 3 JUL 2019
... with some fiscal stimuli from the Morrison Government, might be enough to reverse the downtrend in the domestic economy. If not, look out below!

Australians rapidly gaining wealth: Roy Morgan

ELIZABETH MCARTHUR  |  WEDNESDAY, 3 JUL 2019
... despite a marginal decline in household net worth over the past 12 months. "Housing debt has grown considerably since 2007, but not uniformly - Roy Morgan's data shows wealthier cohorts have shown a much greater propensity to take on debt and those investors ...

Clime ramps up private wealth

KANIKA SOOD  |  TUESDAY, 2 JUL 2019
... organically. We wouldn't rule out an acquisition if the heritage of the business is built around wholesale clients. We are not licensed to provide retail advice and hence are not interested in acquiring retail advice businesses," he said. Bristow ...

QSuper lowers balanced fund fees

KARREN VERGARA  |  TUESDAY, 2 JUL 2019
... indirect costs. This totals to $415 in fees charged for the year. The Queensland-based super fund recently announced it will not directly invest in companies involved in manufacturing cluster bombs and landmines from July 1. With the exception of QSuper ...

Financial scams smash Australia

HARRISON WORLEY  |  TUESDAY, 2 JUL 2019
... than other nations. "All regions of the world reported an increase in cyber-attacks, scams, identity theft and 'Cardholder Not Present' (CNP) frauds. This is set in the context of a changing global banking landscape, where branch networks are shrinking ...

Raiz hikes fees for low balances

KARREN VERGARA  |  TUESDAY, 2 JUL 2019
... accounts with equal to or greater than $10,000, the account fee is unchanged at 0.275 per cent a year. The new fee structure will not affect Raiz Invest Super accounts. Previously, clients were charged zero fees for balances of less than $5000 and 0.275 ...

MLC Super updates TPD cover, premiums

KARREN VERGARA  |  TUESDAY, 2 JUL 2019
... undertake any type of work that he or she is reasonably suited by way of education, training or experience. Members that have not been working during the last 13 months before lodging a claim will be assessed under the Normal Physical Domestic Activities ...

Chief economist update: BOJ Tankan tanking?

BENJAMIN ONG  |  TUESDAY, 2 JUL 2019
The G20 meeting in Osaka, Japan has come and gone. Except for the photo-op, the leaders of the G18 could all have stayed at home and nobody would have noticed. The world's attention was all about the US-China trade deal or no deal tete-a-tete. The ...

Netwealth distribution lead exits

JAMIE WILLIAMSON  |  MONDAY, 1 JUL 2019
... four years. Prior to that, he was a senior business development manager at BNP Paribas Investment Partners. Netwealth did not comment on Mitchell's replacement. The platform provider was recently voted as the top platform by overall satisfaction in the ...

Modern slavery rife across sectors: Fund manager

KARREN VERGARA  |  MONDAY, 1 JUL 2019
... companies are some of the "hot spots" where modern-day slavery is rife. Retail is another troublesome sector because wages have not kept pace with CPI, he told a recent media briefing. The Modern Slavery Act 2018 was passed in 29 November 2018 and came ...